NEW DELHI, January 29, 2018 /PRNewswire/ --
The Board of Directors of Dalmia Bharat Limited (DBL), and OCL India Limited (OCL), at their respective meetings held on 24th January, 2018, approved the Scheme of Arrangement and Amalgamation (the 'Scheme') inter alia of Dalmia Bharat Limited (DBL) and OCL India Limited (OCL). Under the National Company Law Tribunal (NCLT) convened, shareholders of both the companies approved (the 'Scheme') unanimously with 100% of the votes casted in favour of the same.
Mr. Jayesh Doshi, Group CFO and Whole Time Director, Dalmia Bharat Limited, stated that :
"This brings us one step closer to our objective of simplifying the group structure and creating one listed entity. We thank all our stakeholders for their unstinted support. We value this support deeply and remain committed to value creation for all our stakeholders."
The Scheme is now before the National Company Law Tribunal for the final approval which is expected to be received in the next 3 months.
About Dalmia Bharat Group
Dalmia Bharat Group (http://www.dalmiabharat.com) is a leading national player in India's core manufacturing sector since 1939. With a turnover of over 10,000 crore, it has a leadership position in cement, sugar, refractories. A leader in specialty cements and the country's largest producer of slag cement, Dalmia Bharat is the world's greenest cement company. And a leader in sustainability best practices set to global benchmarks. In generic sugar, the group caters to several marquee brands. It has an enduring and growing customer base in refractories.
Dalmia Cement (Bharat) Ltd.
Dalmia Cement (Bharat) Limited (DCBL), a subsidiary of Dalmia Bharat Limited (BSE Code: 533309|NSE Symbol: DALMIABHA and listed in MSE), is a leading player in cement manufacturing since 1939. It is one of the largest and most diverse cement companies in India and is the world's greenest cement company. With a growing capacity, currently pegged at 25 MnT, Dalmia Bharat Cement is also the fourth largest manufacturing capacity in the country. Spread across eight states and 11 manufacturing units, the company is also the category leader in super-specialty cements used for oil wells, railway sleepers and air strips, and is the country's largest producer of slag cement. Visit us at http://www.dalmiacement.com.
Asst. General Manager, Dalmia Bharat Group
SOURCE Dalmia Bharat Limited